Question

2. Merrill Lynch Securities and Health Care Retirement, Inc. are two large employers in downtown
Toledo, Ohio. They are considering jointly offering child care for their employees. As a part of the
feasibility study, they wish to estimate the mean weekly child-care cost of their employees. A
sample of 10 employees who use child care reveals the following amounts spent last week.
	Child Care
	Cost ($)
	$107
	$92
	$97
	$95
	$105
	$101
	$91
	$99
	$95
	$104
(a) Develop a 99 percent confidence interval for the population mean. Interpret the results.
	Note: Use Excel (Commands, Insert Function or Data Analysis) to compute the
	descriptive statistics (sample mean and standard deviation) necessary to construct
	the confidence interval in Question 2.

Answer 1